Wells Fargo & Company Issues Positive Forecast for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

Key Points

• Wells Fargo & Company has increased its target price for JPMorgan Chase & Co. from $325.00 to $345.00, indicating a potential upside of 11.49% from its current price.
• Analysts have varying opinions on JPMorgan Chase & Co., with ratings that include a mix of Strong Buy, Buy, Hold, and Sell, resulting in an average rating of Moderate Buy.
• JPMorgan Chase & Co. reported an earnings per share (EPS) of $4.96 for the last quarter, surpassing earnings expectations by $0.48, despite a year-over-year revenue decline of 10.5%.

JPMorgan Chase & Co. (NYSE:JPM) had its target price increased by analysts at Wells Fargo & Company from $325.00 to $345.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 11.49% from the stock's current price.

Several other equities analysts have also recently issued reports on the company. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Morgan Stanley boosted their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average price target of $292.78.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $309.45 on Tuesday. The stock's 50 day simple moving average is $294.29 and its two-hundred day simple moving average is $267.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $850.91 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.04 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $309.95.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.12 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company's stock.

Institutional Trading of JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after acquiring an additional 4,841 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after buying an additional 1,229 shares during the period. Highview Capital Management LLC DE increased its holdings in JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after buying an additional 1,893 shares during the period. Two Sigma Advisers LP purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $12,657,000. Finally, Zurich Insurance Group Ltd FI increased its holdings in JPMorgan Chase & Co. by 19.4% during the fourth quarter. Zurich Insurance Group Ltd FI now owns 461,534 shares of the financial services provider's stock valued at $110,634,000 after buying an additional 75,115 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.